Anti-graft Law Archives | Be Korea-savvy
Price Ceiling Raised for Agricultural, Livestock Gifts to Public Officials

Price Ceiling Raised for Agricultural, Livestock Gifts to Public Officials

SEOUL, Aug. 21 (Korea Bizwire) — The Anti-Corruption & Civil Rights Commission on Monday approved a revision of the anti-corruption law to ease restrictions on the price of gifts that can be provided to public officials and some other professions. The Improper Solicitation and Graft Act, commonly known as the Kim Young-ran law, named after [...]

Major Firms’ 2018 Entertainment Expenses Dip 13 pct on Anti-graft Law

Major Firms’ 2018 Entertainment Expenses Dip 13 pct on Anti-graft Law

SEOUL, Aug. 26 (Korea Bizwire) — Leading South Korean companies’ entertainment expenses sank nearly 13 percent in 2018 on a draconian anti-graft law that came into effect two years earlier, government data showed Wednesday. A total of 7,402 companies spent a combined 3.16 trillion won (US$2.66 billion) in 2018, down 12.7 percent from 2016, according [...]

Efforts to Amend Anti-Graft Law Hit Snag

Efforts to Amend Anti-Graft Law Hit Snag

SEOUL, Nov. 27 (Korea Bizwire) – Efforts to revise an anti-graft law hit a snag on Monday before they even got off the ground. The Anti-Corruption and Civil Rights Commission voted down a revision bill on the so-called “Kim Young-ran Law.” Named after its architect who once served as a Supreme Court justice and anti-corruption agency chief, the lawbans public servants, [...]

South Korea’s Wild Drinking Culture Shifts amid Declining Alcohol Consumption

South Korea’s Wild Drinking Culture Shifts amid Declining Alcohol Consumption

SEOUL, June 2 (Korea Bizwire) – A slow but noticeable change is coming to South Korea’s once fierce and often authoritative drinking culture.  Whiskey sales have struggled with negative growth for eight consecutive years, plummeting from 2.84 million crates (18 500-mililiter bottles) in 2008 to 1.67 million in 2016, while HiteJinro, a major distiller here, [...]

Livestock, Agricultural Production Plummet with Anti-Corruption Law

Livestock, Agricultural Production Plummet with Anti-Corruption Law

SEOUL, Feb. 23 (Korea Bizwire) – A recent report from the Korea Rural Economic Institute estimated that South Korea’s anti-corruption law will cause a drop in agricultural and livestock production of over 300 billion won ($263.76 million) this year, as the legislation forbids millions of journalists, public officials and educators from receiving gifts worth more [...]

Florists, Flower Farmers Feeling the Pinch of Anti-Corruption Law

Florists, Flower Farmers Feeling the Pinch of Anti-Corruption Law

BUSAN, Jan. 3 (Korea Bizwire) – Flowers – once common as welcoming or departing gifts, or congratulatory presents – were scarcely seen at a Busan government office on Monday, despite it being the peak season for promotions and office transfers.  According to flower farms in the region, the typical end-of-year or early-year reorganization period for [...]